Daily Forex News

Although the British pound continued to edge lower after faltering below the flat ground Kijun-Sen and marginal weakness to 143.00 cannot be ruled out, however, reckon 141.00 would hold and bring further consolidation within near term range of 139.25-153.20 and recovery to the Tenkan-Sen (now at 146.37) would be seen,…

Despite falling to 1.4635 last week, as the single currency has recovered, suggesting initial consolidation would take place this week and minor correction to 1.4888 (current level of the Tenkan-Sen and 50% Fibonacci retracement of 1.5140 to 1.4635) cannot be ruled out, however, reckon 1.5001-06 (current level of the Kijun-Sen…

EUR/USD’s break of 1.3852 suggests that recovery has completed at 1.4025 and recent decline has resumed. Intraday bias is flipped back to the downside and further fall should be seen to key cluster support at 1.3737 next. On the upside, above 1.4025 will bring more consolidation, probably another rise for…

GBP/USD’s break of 1.5902 minor support suggests that recover from 1.5849 has already completed at 1.6067. Intraday bias is flipped back to the downside for 1.5849 first. Break will confirm fall resumption towards 1.5706 key cluster support. On the upside, above 1.6067 will bring more sideway consolidations but after all,…

Intraday bias in USD/CHF remains neutral for the moment and consolidation from 1.0640 might extend further. Another fall cannot be ruled out but downside is expected to be contained by 1.0367 support and bring rally resumption. Above 1.0640 should target 100% projection of 0.9916 to 1.0506 from 1.0131 at 1.0721…

USD/JPY’s choppy recovery from 89.13 might still continue further but after all, fall from 93.74 is still expected to continue as long as 91.86 resistance holds. Below 90.07 minor support will flip intraday bias back to the downside. Break of 89.13 will confirm fall resumption to 87.36 support next. As…

At this point, intraday bias in USD/CAD remains neutral and more consolidations could be seen. But still, we’d expect strong support from 38.2% retracement of 1.0223 to 1.0720 at 1.0530 and bring rebound. Above 1.0638 minor resistance will flip intraday bias back to the upside for retesting 1.0720 first. However,…

AUD/USD’s break of 0.8779 indicates that recent fall from 0.9327 has resumed and should be targeting 0.8734 support next. As noted before, break there will confirm that whole decline from 0.9404 high has resumed and should target medium term fibonacci level at 23.6% retracement of 0.6008 to 0.9404 at 0.8603….

Euro and Sterling both weaken against dollar ahead of ECB and BoE rate decision today. Dollar index is back pressing this week’s high of 79.53 and is set to resume recent rally. The ECB will most likely announce to keep the main-refinancing rate at 1% at the meeting Thursday. Although…

As dollar has maintained a firm undertone after yesterday’s strong rebound from 1.0497, suggesting the pullback from 1.0644 has ended at 1.0497 and gain towards this resistance is under way, however, break there is needed to confirm upmove from 2009 low of 0.9910 has resumed and extend gain towards 1.0690/00…